TZEILTJE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TZEILTJE
Largest movements
- Cash -€68,128
down €68,128 (-21.4%), from €318,577 to €250,449
mainly Investment in fixed assets (net) (-€109,318) and Contributions, distributions and other (-€48,540)
- Tangible fixed assets -€19,574
down €19,574 (-2.5%), from €789,216 to €769,642
of which Furniture and vehicles: -€20,447
- Receivables within one year +€14,814
up €14,814 (+5.9%), from €252,502 to €267,316
of which Other amounts receivable: +€13,945
- Other debts +€37,615
up €37,615 (+60.8%), from €61,879 to €99,494
- Tax, wage and social debts -€32,348
down €32,348 (-21.8%), from €148,191 to €115,842
of which Taxes: -€20,188
- Debts after one year -€30,176
down €30,176 (-8.0%), from €375,412 to €345,236
- Trade debts -€25,850
down €25,850 (-29.7%), from €86,933 to €61,083
- Staff costs +€156,542
up €156,542 (+20.3%), from €772,572 to €929,114
- Gross operating margin +€105,522
up €105,522 (+10.1%), from €1.0m to €1.1m
- Depreciation +€34,000
up €34,000 (+35.8%), from €94,892 to €128,892
- Taxes -€22,421
down €22,421 (-60.5%), from €37,057 to €14,636
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,389,595 | €1,317,907 | -€71,688 | -5.2% |
| Fixed assets | 21/28 | €789,216 | €769,642 | -€19,574 | -2.5% |
| Tangible fixed assets | 22/27 | €789,216 | €769,642 | -€19,574 | -2.5% |
| Land and buildings | 22 | €444,198 | €425,425 | -€18,773 | -4.2% |
| Plant, machinery and equipment | 23 | €301,309 | €322,626 | +€21,317 | +7.1% |
| Furniture and vehicles | 24 | €37,608 | €17,161 | -€20,447 | -54.4% |
| Other tangible fixed assets | 26 | €6,101 | €4,430 | -€1,671 | -27.4% |
| Current assets | 29/58 | €600,379 | €548,265 | -€52,114 | -8.7% |
| Stocks and contracts in progress | 3 | €29,300 | €30,500 | +€1,200 | +4.1% |
| Stocks | 30/36 | €29,300 | €30,500 | +€1,200 | +4.1% |
| Amounts receivable within one year | 40/41 | €252,502 | €267,316 | +€14,814 | +5.9% |
| Trade receivables | 40 | - | €869 | +€869 | |
| Other amounts receivable | 41 | €252,502 | €266,447 | +€13,945 | +5.5% |
| Cash at bank and in hand | 54/58 | €318,577 | €250,449 | -€68,128 | -21.4% |
| Total equity and liabilities | 10/49 | €1,389,595 | €1,317,907 | -€71,688 | -5.2% |
| Equity | 10/15 | €672,308 | €663,022 | -€9,286 | -1.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €625,346 | €616,060 | -€9,286 | -1.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €623,486 | €614,200 | -€9,286 | -1.5% |
| Profit (loss) carried forward | 14 | €34,562 | €34,562 | = | 0.0% |
| Amounts payable | 17/49 | €717,288 | €654,885 | -€62,403 | -8.7% |
| Amounts payable after more than one year | 17 | €375,412 | €345,236 | -€30,176 | -8.0% |
| Financial debts | 170/4 | €375,412 | €345,236 | -€30,176 | -8.0% |
| Amounts payable within one year | 42/48 | €341,876 | €309,649 | -€32,227 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €44,873 | €33,230 | -€11,643 | -25.9% |
| Trade debts | 44 | €86,933 | €61,083 | -€25,850 | -29.7% |
| Suppliers | 440/4 | €86,933 | €61,083 | -€25,850 | -29.7% |
| Taxes, remuneration and social security | 45 | €148,191 | €115,842 | -€32,348 | -21.8% |
| Taxes | 450/3 | €97,876 | €77,688 | -€20,188 | -20.6% |
| Remuneration and social security | 454/9 | €50,315 | €38,154 | -€12,161 | -24.2% |
| Other amounts payable | 47/48 | €61,879 | €99,494 | +€37,615 | +60.8% |
| Remuneration, social security and pensions | 62 | €772,572 | €929,114 | +€156,542 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,892 | €128,892 | +€34,000 | +35.8% |
| Other operating charges | 640/8 | €9,680 | €8,225 | -€1,455 | -15.0% |
| Gross operating margin | 9900 | €1,043,478 | €1,149,000 | +€105,522 | +10.1% |
| Operating profit (loss) | 9901 | €166,334 | €82,769 | -€83,565 | -50.2% |
| Financial income | 75/76B | - | €581 | +€581 | |
| Recurring financial income | 75 | - | €581 | +€581 | |
| Financial charges | 65/66B | €19,497 | €29,459 | +€9,962 | +51.1% |
| Recurring financial charges | 65 | €19,084 | €29,451 | +€10,367 | +54.3% |
| Non-recurring financial charges | 66B | €413 | €8 | -€405 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | €146,838 | €53,891 | -€92,947 | -63.3% |
| Income taxes | 67/77 | €37,057 | €14,636 | -€22,421 | -60.5% |
| Profit (loss) for the period | 9904 | €109,781 | €39,255 | -€70,526 | -64.2% |
| Profit (loss) for the period to be appropriated | 9905 | €109,781 | €39,255 | -€70,526 | -64.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.